In chapter 2, the author describes Hyperledger Fabric and its components. choose one of the Hyperledger design principles described in chapter 2, and explain why your chosen design principle is import
Professor Michael Solomon BLCN 532 Blockchain development Chapter 1 Chapter 1 • Blockchain – Enterprise and Industry Perspective • Definition • Building solutions • Blockchain applications • Enterprise design principles • Business considerations What is a blockchain? Immutable ledger for recording transactions • Distributed network • Untrusting peers Public blockchain (permissionless) • Anyone can access without first getting permission Private blockchain (permissioned) • Owner permission required before access Blockchain basics • Consensus protocol • Proof of Work (PoW) is popular Public blockchain • Access restricted based on identity Private blockchain • Mandatory execution of programmable logic Smart contract Comparing blockchain to centralized Core building blocks • Shared ledger • Cryptography • Smart contracts • Trust system Fundamentals of secure transactions Blockchain use cases Good fit for blockchain • Applications that:• adhere to trade, truest, and ownership • fundamentally transactional in nature • Business networks that are comprised of non - monopolistic participants Enterprise considerations Transaction requirements • Ability to verifiably transfer item of value Trade • Assurance of any asset’s owner • At a point in time Ownership • Agreement that transactions are valid • Persistent integrity Trust Blockchain technology Trust system • Consensus • Mining • Public ledger Private communication on open network • Cryptography and encryption Non - repudiation • Identity and transparency Blockchain Business Drivers Consensus models Control and governance Digital asset generation Authority for issuance Security considerations Blockchain Design Principles Principles for adoption • How well does the solution map to, and support, business activities? Business blueprint • Does the technology provide the utility required to run the business? Technology blueprint • Does the proposed solution integrate with legacy and external systems? Enterprise integration Summary • Adopting blockchain technology requires balance • Legacy processes must not be disrupted • May encounter additional regulatory obstacles • Disruption can be good, but not always comfortable
